Real Estate
US Home Prices Now Posting Biggest Monthly Drops Since 2009
- Cities facing steepest correction include San Francisco
- Inventory levels stayed relatively flat, data provider says
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Home prices in the US have taken a turn and are now posting the biggest monthly declines since 2009.
Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, mortgage-data provider Black Knight Inc. said in a report Monday. The two periods mark the largest monthly declines since January 2009.